Facebook slams UK antitrust watchdog over call to sell Giphy

Facebook has criticized U.K. competition watchdog’s provisional decision that it should sell off Giphy because it’s acquisition of the company stifled competition for animated images

LONDON -- Facebook has criticized the U.K. competition watchdog's provisional decision ordering that it sell off Giphy because it said the acquisition of the company stifles competition for animated images. The social network's strongly worded response to the Competition and Markets Authority sets the stage for a battle over the future of Giphy. In the Wednesday letter, Facebook said the watchdog's decision contained “fundamental errors.” The U.S. company questioned whether the authority's call to sell Giphy after acquiring it last year would be effective or enforceable. “The CMA's complete divestiture remedy is grossly unreasonable and disproportionate,” Facebook said.